2022/02/17 06:50 AM – NASDAQ 100 MINI FUT -D1/H4 – PULLBACK FAILURE!

NQ1 100 MF – PULLBACK FAILURE ! by Ironman8848 on TradingView.com

DAILY (D1)

Yesterday’s price action on one hand, above the cluster of TS (14’549) and MB (14’570) but..be careful, the shape of the yesterday’s candle ( doji hanging man, is a warning reversal signal which
is also validated by the pullback failure to recover and hold above the former uptrend support line (in green).

Indeed, today’s ongoing price action is already in progress to confirm this expected downside move (should of course be confirmed on a daily closing basis to validate further downside).

There is a very fragile zone (14500-14’250) and a failure to hold above 14’250, on a daily closing basis, would directly put the focus on the 14’000 area (former low and doji ) ahead of the intraday low
of 13’706 reached on January 24th.

RSI below 50, @ 44.24

4 HOURS (H4)

Still under the influence of this triangle pattern (technical target @ 12’932), where, for the time being, several pullback recovery attempts failed, also rejected by the H4 clouds resistance zone .

The Lagging line is again, currently below the clouds too.

A failure to hold, on H4 closing basis) above the ongoing H4 support trend line , currently @ 14’425 (by the way, also the 38.2% Fib ret) would weigh on the NQ1 and would open the door for lower levels previously mentioned in D1.

Watch the clouds as the first significant H4 resistance area

RSI slightly above the 50 level, @ 50.13

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